Australia's Alumina says China driving up prices

MELBOURNE (MarketWatch) -- Alumina Ltd. (AWC.AU) said Tuesday that alumina prices are being driven higher by strong Chinese demand but that costs are also on the rise.

The Melbourne-based miner's joint venture partner Alcoa Inc. (AA) posted a net loss of US$201 million for the three months ended March 31 overnight but Alumina said it had received US$58 million in dividends from its partner for the quarter.

Chief Executive John Bevan said alumina prices had continued to strengthen throughout the quarter, "driven primarily by strong demand from China".

"Costs have been impacted by higher energy prices and a stronger Australian dollar," he said.

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